Ringgit opens slightly higher against US dollar

Kuala Lumpur – The ringgit opened slightly higher against the US dollar today as investors’ interest shifted away from the greenback following US President Donald Trump’s remark that he preferred to see US interest rates stay low.

At 9.10am, the local note stood at 4.3950/3980 against the greenback from 4.3960/3000 registered at 6pm yesterday.

A dealer said investors’ sentiment towards the ringgit was improving and the news on US interest rates would likely further boost demand for the currency.

Meanwhile, the ringgit was traded higher against most major currencies.

The local note rose against the Singapore dollar to 3.1422/1446 from 3.1465/1498 yesterday and was higher against the yen at 4.0207/0245 from 4.0312/0352 yesterday .

The ringgit strengthened against the British pound to 5.6260/6321 from 5.6392/6452 yesterday and advanced against the euro to 4.7106/7142 from 4.7310/7366, previously. — Bernama